Financial crime and sanctions

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Financial crime

As regulated businesses, insurers need to ensure that they operate in a manner consistent with their financial crime obligations under the Financial Services and Markets Act 2000. Insurers must also comply with certain rules in the Financial Conduct Authority (FCA)’s Senior Management Arrangements, Systems and Controls Sourcebook (SYSC). For guidance on the UK’s anti-money laundering (AML), combating terrorist financing (CFT) requirements, anti-bribery and corruption requirements and the Joint Money Laundering Steering Group (JMLSG) guidance for general insurers, see Practice Notes:

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